Recently, the Cardano community had a vote to share their views on some upcoming changes in the network. The main question was about changing two settings in the network from Q3 2023. Many people took part in this vote, sharing what they preferred. Here’s how the voting went:
Votes by number of stake pools:
- Keep k at 500 and minPoolCost at 340 ADA: 8.77%
- Keep k at 500 and halve minPoolCost to 170 ADA: 12.28%
- Increase k to 1000 and keep minPoolCost at 340 ADA: 23.81%
- Increase k to 1000 and halve minPoolCost to 170 ADA: 45.86%
- I would prefer to abstain: 0.63%
- None of the provided options: 8.65%
Votes by Stake:
- Keep k at 500 and minPoolCost at 340 ADA: 2.08 billion ADA
- Keep k at 500 and halve minPoolCost to 170 ADA: 2.73 billion ADA
- Increase k to 1000 and keep minPoolCost at 340 ADA: 1.47 billion ADA
- Increase k to 1000 and halve minPoolCost to 170 ADA: 3.00 billion ADA
- I would prefer to abstain: 79.56 million ADA
- None of the provided options: 1.51 billion ADA
After the vote, a group of experts from the Parameter Committee looked at the results. They suggested making changes step by step, starting with reducing the minPoolCost. This way, they can watch how these changes affect the network and decide on the next steps.
Cardano Foundation’s Feedback
The Cardano Foundation, a big organization in the Cardano community, reviewed the committee’s suggestions. They agree with the step-by-step approach. They believe it’s important to listen to the community’s views from the vote. They also talked about how these changes might affect smaller groups who run pools in the network and highlighted the need to watch the effects carefully.
Consequences for the Cardano Community
The Cardano community is at an important point, with big changes coming soon. Here’s a simple explanation of what these changes might mean for different people:
- Regular Cardano Users/Stakers: The changes, especially the lower minPoolCost, might bring better rewards when you stake your ADA. But, it’s important to watch how these changes might affect the overall health of the network.
- Small Pool Owners: The lower minPoolCost seems like a good opportunity. It might help them attract more people to join their pool, possibly increasing their rewards. But, they will also have to manage with a smaller budget, which could be challenging.
- Large Pool Owners: They might not feel the changes much, but they will see more competition from smaller pools. This situation might encourage them to come up with new ideas to keep and attract more people to their pool.
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